Hi again,

Has anybody ever invested in rentals in Milan, MI or nearby?  I keep seeing some really nice older duplexes?  I know it's a small town. But being close to Ann Arbor, I think it might be easy to rent out.

@Account Closed

HI, 

I wouldn't invest in Milan, MI based on it being close to Ann Arbor. 

That being said I think it can be a great investment. The numbers on Milan properties are great. 

If you are looking for a less expensive market near Ann Arbor, Ypsilanti might somthing to consider.

Messege me if you want to discuss anything in detail.

Actually, what I like about Milan and other surrounding towns, is the nice houses with backyards in quiet neighborhoods.  A place where you can come home to relax after a long day in the city. Where you can go for walks and ride your bikes.  Where a family can let their children play outside, with out fear.  Milan seems like such a town. What I'd like to know... is there a need for something like this... is there a market for it? Even a small one, where I can get into?  I know we often read that we should look into larger cities where there is more growth.  But there's a lot going for small towns too.  Or is it just me that feels that way?  

Originally posted by @Account Closed :

Hi again,

Has anybody ever invested in rentals in Milan, MI or nearby?  I keep seeing some really nice older duplexes?  I know it's a small town. But being close to Ann Arbor, I think it might be easy to rent out.

I think Milan is a good town to invest in. It’s a small town with a lot of surrounding farms and very little crime. Schools are decent. Most people that live in Milan commute to Ann Arbor (20 min) for work since there aren’t a lot of jobs in town. Ypsilanti is much closer to Ann Arbor, has a lot more people/housing, & more job opportunities, but you have to know the neighborhoods. Crime is much higher in some parts of Ypsilanti than in Milan or Ann Arbor. You can go from B to C- areas really quickly. 

Thanks Michele.  Ypsillanti, Milan, as well as Techumseh are on our list.  One last question for now. When is the best month to buy real estate in MI, as far as inventory and prices are concerned.

Hello Estelle, 

I lived in Milan for 12 years. Rented in town all those years as well. Milan is a great community for renters. The description you posted earlier is very much Milan. There are not enough rentals in the market right now. Keep in mind that just because it is close to Ann Arbor, it does not fetch Ann Arbor rental rates; same for Ypsilanti, Tecumseh. That will be one of your bigger challenges along with slightly elevated taxes and water rates. Taxes depend on whether you are in Washtenaw County or Monore County; there is a dividing line directly thru the city. Washtenaw is higher taxes but more desirable, Monroe is cheaper in taxes with 90% of the same benefits as the other. There's no area within the City of Milan that I would consider unsafe. It does have it's shadier areas but most are actually out in the country between Dundee and Milan/ Maybee area. If I can answer any specific questions, feel free to reach out. 

Amy